Archive: 01/30/2008
Main News
France says SocGen in crisis
January 29, 2008 07:59 AM ET
PARIS (Reuters) - France's economy minister said Societe Generale,
reeling from losses blamed on a rogue trader, is a bank in crisis
and may need to ditch its chairman.
http://links.reuters.com/r/8Q1OD/Q85U0/EOZDB/I9HDS/FHMGA/YT/t
January 29, 2008 07:59 AM ET
PARIS (Reuters) - France's economy minister said Societe Generale,
reeling from losses blamed on a rogue trader, is a bank in crisis
and may need to ditch its chairman.
http://links.reuters.com/r/8Q1OD/Q85U0/EOZDB/I9HDS/FHMGA/YT/t
Société Générale Blew Chances To Nab Trader
Wall Street Journal Interactive - Tuesday January 29, 10:38 GMT
Wall Street Journal Interactive - Tuesday January 29, 10:38 GMT
The Bonuses Keep Coming
NEW YORK The grim toll that the U.S. mortgage crisis has taken on financial markets has been felt worldwide, from traders in Hong Kong to small-town mayors in Europe to pensioners in the American Midwest.
(By Tomoeh Murakami Tse and Renae Merle, The Washington Post)
NEW YORK The grim toll that the U.S. mortgage crisis has taken on financial markets has been felt worldwide, from traders in Hong Kong to small-town mayors in Europe to pensioners in the American Midwest.
(By Tomoeh Murakami Tse and Renae Merle, The Washington Post)
‘Credit orgy’ is over and recession looms, says Jabre
Financial Times - Tuesday January 29, 10:36 GMT
Financial Times - Tuesday January 29, 10:36 GMT
Executive Gets 20-Year Term for Hedge Fund Scheme
NYTimes.com via Yahoo! Finance Tue, 29 Jan 2008 2:40 PM PST
The former chief financial officer of the hedge fund Bayou Group was sentenced to 20 years in prison for his role in a scheme that defrauded investors of $450 million and led to the fund’s collapse.
NYTimes.com via Yahoo! Finance Tue, 29 Jan 2008 2:40 PM PST
The former chief financial officer of the hedge fund Bayou Group was sentenced to 20 years in prison for his role in a scheme that defrauded investors of $450 million and led to the fund’s collapse.
IndexIQ Senior Vice President Salvatore Bruno Provides a Primer on Hedge Fund Replication
Business Wire via Yahoo! Finance Tue, 29 Jan 2008 7:29 AM PST
NEW YORK----Salvatore Bruno, Senior Vice President of IndexIQ, the leading developer of Rules-Based Alpha™ investment products, led the opening workshop of the Effective Hedge Fund Replication Conference in New York on Monday.
Business Wire via Yahoo! Finance Tue, 29 Jan 2008 7:29 AM PST
NEW YORK----Salvatore Bruno, Senior Vice President of IndexIQ, the leading developer of Rules-Based Alpha™ investment products, led the opening workshop of the Effective Hedge Fund Replication Conference in New York on Monday.
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File Format: PDF/Adobe Acrobat - View as HTML RISK Magazine, 1 December 2007. The race to replicate. Hedge fund replication indexes were hailed as an effective means of obtaining exposure ... www.bluewhitealternatives.com/Link.aspx?id=571733 - Similar pages |
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One early Wednesday morning last July, when the subprime mortgage meltdown first began to rock the markets, I found myself sitting with investing legend ... |
Monoline Insurance: There's a New Sheriff in Town...
Seeking Alpha - New York,NY,USA
That $130 billion worth of CDO/CDS exposure makes it highly unlikely that anyone is coming along to rescue this group of risk-loving, ...
Seeking Alpha - New York,NY,USA
That $130 billion worth of CDO/CDS exposure makes it highly unlikely that anyone is coming along to rescue this group of risk-loving, ...
The following is a speech by Treasury Assistant Secretary for Financial Markets Anthony W. Ryan, at the World Research Group Liquidity conference.
Water, Water Everywhere...But Not Enough Of It
Water may be the source of the next major natural resource crisis. A rising world population; increased demand for water for agriculture, industry, and energy production; and a desire for safer, more plentiful, water supplies are pressuring existing resources. Meanwhile, climate change may be cutting the availability of fresh water. Most of Europe and North America have taken access to cheap, safe water for granted. People in Asia, Africa, and Latin America would like to. Will all of us have to start thinking harder about it?
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAWUDQTVsLgHxhilpuHQJhuV2VS
Water may be the source of the next major natural resource crisis. A rising world population; increased demand for water for agriculture, industry, and energy production; and a desire for safer, more plentiful, water supplies are pressuring existing resources. Meanwhile, climate change may be cutting the availability of fresh water. Most of Europe and North America have taken access to cheap, safe water for granted. People in Asia, Africa, and Latin America would like to. Will all of us have to start thinking harder about it?
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAWUDQTVsLgHxhilpuHQJhuV2VS
Default, Transition, and Recovery: U.S. Distressed Debt Monitor: Fastest Monthly Gain In Five Years
The U.S. distress ratio accelerated by five percentage points to 11.1% in January, from 6.1% in December. The ratio is at its highest level since September 2003, and the monthly jump from December was the fastest recorded since October 2002. The continued tightening of credit conditions has accelerated in earnest with the recent widening of spreads since the beginning of 2008. This is despite the Federal Reserve's multiple attempts to ease credit conditions in the U.S.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAWUDQTVsLgHxhilpuHQJhuV2VB
The U.S. distress ratio accelerated by five percentage points to 11.1% in January, from 6.1% in December. The ratio is at its highest level since September 2003, and the monthly jump from December was the fastest recorded since October 2002. The continued tightening of credit conditions has accelerated in earnest with the recent widening of spreads since the beginning of 2008. This is despite the Federal Reserve's multiple attempts to ease credit conditions in the U.S.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAWUDQTVsLgHxhilpuHQJhuV2VB
Ben Stein Is An Idiot
Ben Stein is a charming, successful actor and writer who graduated at the top of his class from Yale Law School. Based on two of his recent columns in the New York Times, however, he's also an idiot.
Ben Stein is a charming, successful actor and writer who graduated at the top of his class from Yale Law School. Based on two of his recent columns in the New York Times, however, he's also an idiot.
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Yield Curve Corner
Bernanke puts economy concern first
Times Online - UK
An even more intriguing idea was that, with all this talk of a fiscal stimulus in Washington, Mr Bernanke wanted to demonstrate who was really in charge of ...
Times Online - UK
An even more intriguing idea was that, with all this talk of a fiscal stimulus in Washington, Mr Bernanke wanted to demonstrate who was really in charge of ...
Time for Bernanke to 'man up'
CNNMoney.com - USA
NEW YORK (CNNMoney.com) -- "This was a sad day for Bernanke," a bond fund manager told me the day after the Federal Reserve cut interest rates by an ...
CNNMoney.com - USA
NEW YORK (CNNMoney.com) -- "This was a sad day for Bernanke," a bond fund manager told me the day after the Federal Reserve cut interest rates by an ...
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Natural Disaster Corner
Climate Prediction http://www.nws.noaa.gov/predictions.php
World Meterological Organization http://severe.worldweather.org/
Tornadoes: http://www.disastercenter.com/tornado.htm
Great Sat Pictures of events: http://www.osei.noaa.gov/Events/Current/DSTus029_G11.
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Iranian Situation and Other Man Made Disasters
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Iran conservative coalition to unveil candidates AFP via Yahoo! News Tue, 29 Jan 2008 6:41 AM PST Iran's main conservative coalition, which is close to President Mahmoud Ahmadinejad, said on Tuesday it will unveil its candidate list next week for the March parliamentary election. |
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Iran sentences Bahai religious followers for 'anti-regime propaganda' AFP via Yahoo! News Tue, 29 Jan 2008 6:10 AM PST Iran's judiciary said on Tuesday it has sentenced 54 members of the Bahai religious community, whose faith is banned in the Islamic republic, for anti-regime propaganda. |
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Opalesque’s Corner
- New Funds: Sail Advisors launches asian FoHF, Update: Globefin to expand Cannonball portfolio
- Portrait: Tiger`s Julian Robertson roars again, returned 76.7% in 2007, 403.7% since 2000 managing own portfolio
- Systeia says London Times got their fund performance wrong, pretty wrong
- Outlook: Update: HSBC says HFs will yield good returns from distressed assets in 2008
- AUM Survey: Institutional investors have poured new assets into UK high alpha and global equity, capacity is becoming a concern
- Institutions: Canadian pension fund with big hedge fund exposure improves from summer results, Pension Funds Survey: 35% of Hewitt`s UK manager selections in 2007 focused on absolute return strategies including hedge funds, trend to continue
- Societe Generale Update: EUREX already raised alarm over SocGen trades in November, ...But Kerviel promptly managed to produce another fake document, misleading SocGen again, Kerviel amassed 50 bln euros in positions, Kerviel says other traders broke trading limits too, The loss where no one looked: Kerviel not even considered a `trader` by some, SocGen to face lawsuit over fraud scandal
- Comment: Hedge funds` risk management systems much more effective than those of banks, Fortress President: `It`s the banks that blow up the world`
- Philippe Jabre predicts end of `credit orgy`, warns about recession, Portrait: Relocated chief lights a cigar to Geneva
- Credit Crunch Update: Fed may not repeat LTCM trick, will not bail out bond insurers, NY regulators hired investment bankers to rescue US bond insurers, Hedgebay hunts buyers for event-driven funds,
- US SEC Commissioner Paul Atkins tells EDHEC that hedge funds will be part of the solution to the subprime crisis
- People: Capital Z AM names Calper`s Christianna Wood CEO, Elizabeth Flisser appointed President, Calpers announces Eric Baggesen to succeed Wood as Acting Senior Investment Officer, Merrill Co-President Fakahany to leave, Legg Mason names Fetting as new CEO, BNP Paribas expands global hedge fund relationship management team, Sprott hires young blood from AGF
- Legal: Pennsylvania court deals SEC another setback in PIPEs ruling, 26 firms join Countrywide lawsuit, Chronos finally settles with SEC
- Environmental Trading News: Tony Blair to advise Zurich Financial on climate change, UAE is rebranding itself as focus shifts to green energy
- Commodities: Calyon plans expansion of commodities derivatives business, Wave of commodities thefts hits rural America: criminals illegally fall timber, carry off entire shipping containers of almonds, risk lives to strip electricity transmitters of their copper wiring
- Exchanges: CME and Nymex in talks over $11bln merger, CME Group and NYMEX confirm preliminary discussions, 30 day exclusive negotiating period, Deutsche Boerse focus to shift from consolidation to growth as stock exchanges worldwide are forecasting record profits
- Tech Update: Northern Trust, youDevise to provide FoHFs with daily portfolio management data
- Views: Net exposure is the best guide to derivatives` market impact
- Fortunes: Commentary: How to survive the fortune you made in subprime, a look at Paulson`s case, Gambling for great wealth: How the Forbes 400 made their fortunes
- Europe: Merkel renews hedge fund transparency call ahead of today`s London talks with other European leaders, ECB aid to Spanish banks matches Rock rescue, Eastern Europe to feel credit squeeze
- Africa: Och-Ziff, investment vehicle Palladino and South African Economic Empowerment Group create joint venture to focus on natural resources in Africa
- Middle East: Middle Eastern asset management industry grows AUM to over $1,600bln, Brunei Investment Agency recognizes growing interest in alternative investment
- Asia: Chinese-style hedge funds (`private investment funds`) lure top fund managers, Bank of Thailand expects sub-prime damage to reach $400bln, financial activities to shift into Asia
- Australia: Financial stocks in Australia hit by subprime crisis, MFS shares plunged nearly 70%, Comment: Hedge fund intervention has heightened market volatility but the case for a bear market is still unclear
- Sovereign Wealth Funds: US Deputy Secretary stresses benefit of commercially-based sovereign wealth funds, New Saudi sovereign fund could be global leader
- Activist News: Battle looms at Biogen as Icahn seeks board seats
- News Briefs: Buffett donates Berkshire stock worth $14.31mln to charities, Sears CEO to leave, NASAA issues warning on investment scams, Integrated still hungry for more HF acquisitions, Treasury Committee publishes report on Northern Rock, Spanish bank to buy out Morgan Stanley fund management in Spain, President Arroyo launches bonds, hedge fund for Filipino workers, HK wants to be Asia`s Islamic financial centre
- ...And finally: If you misplace your I.D. before getting on a plane, and happen to have a magazine with your photo in it, you can use that instead
- Logon: http://www.opalesque.com/main.php?act=archive
- Portrait: Tiger`s Julian Robertson roars again, returned 76.7% in 2007, 403.7% since 2000 managing own portfolio
- Systeia says London Times got their fund performance wrong, pretty wrong
- Outlook: Update: HSBC says HFs will yield good returns from distressed assets in 2008
- AUM Survey: Institutional investors have poured new assets into UK high alpha and global equity, capacity is becoming a concern
- Institutions: Canadian pension fund with big hedge fund exposure improves from summer results, Pension Funds Survey: 35% of Hewitt`s UK manager selections in 2007 focused on absolute return strategies including hedge funds, trend to continue
- Societe Generale Update: EUREX already raised alarm over SocGen trades in November, ...But Kerviel promptly managed to produce another fake document, misleading SocGen again, Kerviel amassed 50 bln euros in positions, Kerviel says other traders broke trading limits too, The loss where no one looked: Kerviel not even considered a `trader` by some, SocGen to face lawsuit over fraud scandal
- Comment: Hedge funds` risk management systems much more effective than those of banks, Fortress President: `It`s the banks that blow up the world`
- Philippe Jabre predicts end of `credit orgy`, warns about recession, Portrait: Relocated chief lights a cigar to Geneva
- Credit Crunch Update: Fed may not repeat LTCM trick, will not bail out bond insurers, NY regulators hired investment bankers to rescue US bond insurers, Hedgebay hunts buyers for event-driven funds,
- US SEC Commissioner Paul Atkins tells EDHEC that hedge funds will be part of the solution to the subprime crisis
- People: Capital Z AM names Calper`s Christianna Wood CEO, Elizabeth Flisser appointed President, Calpers announces Eric Baggesen to succeed Wood as Acting Senior Investment Officer, Merrill Co-President Fakahany to leave, Legg Mason names Fetting as new CEO, BNP Paribas expands global hedge fund relationship management team, Sprott hires young blood from AGF
- Legal: Pennsylvania court deals SEC another setback in PIPEs ruling, 26 firms join Countrywide lawsuit, Chronos finally settles with SEC
- Environmental Trading News: Tony Blair to advise Zurich Financial on climate change, UAE is rebranding itself as focus shifts to green energy
- Commodities: Calyon plans expansion of commodities derivatives business, Wave of commodities thefts hits rural America: criminals illegally fall timber, carry off entire shipping containers of almonds, risk lives to strip electricity transmitters of their copper wiring
- Exchanges: CME and Nymex in talks over $11bln merger, CME Group and NYMEX confirm preliminary discussions, 30 day exclusive negotiating period, Deutsche Boerse focus to shift from consolidation to growth as stock exchanges worldwide are forecasting record profits
- Tech Update: Northern Trust, youDevise to provide FoHFs with daily portfolio management data
- Views: Net exposure is the best guide to derivatives` market impact
- Fortunes: Commentary: How to survive the fortune you made in subprime, a look at Paulson`s case, Gambling for great wealth: How the Forbes 400 made their fortunes
- Europe: Merkel renews hedge fund transparency call ahead of today`s London talks with other European leaders, ECB aid to Spanish banks matches Rock rescue, Eastern Europe to feel credit squeeze
- Africa: Och-Ziff, investment vehicle Palladino and South African Economic Empowerment Group create joint venture to focus on natural resources in Africa
- Middle East: Middle Eastern asset management industry grows AUM to over $1,600bln, Brunei Investment Agency recognizes growing interest in alternative investment
- Asia: Chinese-style hedge funds (`private investment funds`) lure top fund managers, Bank of Thailand expects sub-prime damage to reach $400bln, financial activities to shift into Asia
- Australia: Financial stocks in Australia hit by subprime crisis, MFS shares plunged nearly 70%, Comment: Hedge fund intervention has heightened market volatility but the case for a bear market is still unclear
- Sovereign Wealth Funds: US Deputy Secretary stresses benefit of commercially-based sovereign wealth funds, New Saudi sovereign fund could be global leader
- Activist News: Battle looms at Biogen as Icahn seeks board seats
- News Briefs: Buffett donates Berkshire stock worth $14.31mln to charities, Sears CEO to leave, NASAA issues warning on investment scams, Integrated still hungry for more HF acquisitions, Treasury Committee publishes report on Northern Rock, Spanish bank to buy out Morgan Stanley fund management in Spain, President Arroyo launches bonds, hedge fund for Filipino workers, HK wants to be Asia`s Islamic financial centre
- ...And finally: If you misplace your I.D. before getting on a plane, and happen to have a magazine with your photo in it, you can use that instead
- Logon: http://www.opalesque.com/main.php?act=archive
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Misc. Items of Interest
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Funnies, Facts, Quotes, etc….
Essential vocabulary additions for the workplace (and elsewhere)
1. BLAMESTORMING: Sitting around in a group, discussing why a
deadline………..
1. BLAMESTORMING: Sitting around in a group, discussing why a
deadline………..
sylvan SIL-vuhn, adjective:
1. Of or pertaining to woods or forest regions.
2. Living or located in a wood or forest.
3. Abounding in forests or trees; wooded.
4. A fabled deity or spirit of the woods.
5. One that lives in or frequents the woods or forest; a rustic.
2. Living or located in a wood or forest.
3. Abounding in forests or trees; wooded.
4. A fabled deity or spirit of the woods.
5. One that lives in or frequents the woods or forest; a rustic.
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Conference, Courses, Books, Papers
Great Research Sites:
Merrill Lynch research Link to full report including important disclosures see example
John Mauldin’s Weekly Analysis
James Altucher’s Website:
Other useful sites:
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Index Corner
The CSFB/Tremont Hedge Fund Index www.hedgeindex.com.
The Cogent Dynamic Averages http://www.cogenthedge.com/home/inv_strategy.asphttp://www.cogenthedge.com/home/inv_strategy.asp
The Dow Jones Indices: http://www.djhedgefundindexes.com/index.cfm?event=viewPremiumContent (free registration)
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Regulatory Info
investor.info@sfc.hkhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.htmlhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.htmlhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.html
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Disclaimer
The information contained in this document does not constitute an offer or solicitation to sell any security or other type of vehicles to or by anyone in any jurisdictions, nor should it be regarded as a contractual document. Under no circumstances should the information provided on this document be considered as financial advice, or as a sufficient basis on which to make investment decisions. The information contained herein has been gathered by Investor DNA, LLC from sources deemed reliable as of the date of publication, but no warranty of accuracy or completeness is given. Investor DNA, LLC is not responsible for and provides no guarantee with respect to any of the information provided herein or through the use of any hypertext link. Past results are no indication of future performance. All information in this newsletter is for educational and informational purposes and does not constitute investment, legal, tax or accounting advice. All materials are the property of the
respective publishers, as referenced by header and appropriate hypertext links.
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